Major airline plunges into administration and stops flights – in business since 1992 | World | News
Smartlynx Airlines has shut down operations entirely (Image: Getty)
A prominent airline collapsed into administration following over thirty years of service, leaving a staggering debt of £206million. Smartlynx Airlines, based in Latvia, had been grappling with financial difficulties since the autumn of 2025.
Despite efforts to salvage the situation, undisclosed levels of debt and the failure to formulate a feasible recovery strategy resulted in the cessation of operations and the grounding of numerous aircraft. The airline was renowned for supplying European carriers such as EasyJet, which would apply their own branding to the otherwise unmarked planes. In recent times, the airline has even extended its reach to India.
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A major airline has plunged into administration (Image: Getty)
Between 2023-2024, the airline significantly increased its fleet size to accommodate demand, transporting over 10 million passengers in a single year and catering to clients including IndiGo, AnadoluJet of Turkish Airlines, AirTransat, DHL and others via bespoke ACMI and charter services.
However, on 24 November 2025, the firm confirmed it would cease all operations, leaving behind a debt of £206m (€240 million) and unpaid taxes amounting to £433,000 (€500,000) owed to the Latvian government.
The closure signifies the conclusion of one of Europe’s more longstanding wet-lease and charter providers after 33 years in business.
In a statement, the airline commented: “This decision comes after a thorough assessment of our situation and long-term outlook, and it was not taken lightly.
“We started as a small Latvian airline with big dreams, and over 33 years grew into an international family known for resilience, adaptability, and a spirit that never backed down.”
Leaving behind a “true legacy”, the airline expressed gratitude to their thousands of colleagues. The statement added: “SmartLynx has always been built by its people – passionate professionals from all corners of the world who took on every challenge with determination.
“Together, we filled the last three decades with moments that won’t be forgotten: days and nights in the skies, flights all over the world, new bases opening, new teams forming, and lots of special stories.
“These moments, created by thousands of dedicated colleagues over three decades, are the true legacy of SmartLynx. To our teams, partners, clients, and friends – thank you.”
